“Clarks has gone astray, but the brand will return to the ring with its rivals Dr. Martens and Birkenstock,” promises new boss Victor Herrero, who has become the sixth Clarks CEO in the brand's history.
Herrro took the position in February 2021, following the injection of £ 100m by new investors Lion Rock Capital and Chinese entrepreneur Li Ning. The deal resulted in the Clarks family relinquishing control of the company, 200 years after its inception, writes the Financial Times.
Herrero, who previously ran the American fashion brand Guess, said Clarks, which went through a major restructuring last year, suffered from a lack of good governance. “Nobody moved forward with the intended strategy. There was no need or desire to develop the brand. " In his opinion, Clarks can change the brand's image - comfortable shoes for school and work. So far, this is how this brand is perceived in its native UK.
“We have iconic models like Desert Boots and Wallabees. We have a brand and relevance, we just need to implement what we have set out, ”said Herrero.
Covid hit the company's business hard, cutting Clarks' sales by £ 230 million in the year to February 2021, the company's retail network shrinking significantly, and about 900 employees were laid off.
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